On August 20, Lowe's declined 3.03% in regular trading, trading at approximately $213.70 per share, with turnover of $19.88 million. The decline reflects continued market digestion of the company's lowered full-year guidance issued alongside its fiscal Q2 earnings report.
Lowe's reported fiscal Q2 adjusted EPS of $4.40, beating the FactSet consensus estimate of $4.22, while net sales of $25.96 billion fell short of the expected $26.13 billion. More critically, the company cut its full-year adjusted EPS outlook to approximately $12.25, below the prior range of $12.25 to $12.75 and the analyst consensus of $12.43. Full-year sales guidance was also narrowed to about $92 billion, missing expectations of $92.94 billion.
Analysts note that Lowe's heavier exposure to the softer DIY consumer channel is weighing on its performance relative to Home Depot. Truist trimmed its price target to $254 from $255 while maintaining a Buy rating. The broader home improvement retail sector traded lower, with Home Depot down 3.41% and Floor & Decor Holdings down 3.85%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments